Is Lyons, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lyons is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Lyons has remained a Seller's Market.

Key Takeaway

Lyons is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lyons, IL

How much do homes in Lyons, IL cost?

Median Sold Price

$250,000

$190/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$7,000(+2.9%)

Key Takeaway

Homes in Lyons have sold for 2.9% more than they did a year ago.

Summary: The median home sold price in Lyons was $250,000 in May 2024, up 2.9% from last year, and the median price per square foot was $190.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $82.4K$113K
+37.1%
2 $224K$160K
-28.6%
3 $257K$265K
+3.1%
4 $246K$300K
+22.0%
5+ $287.5K$360K
+25.2%

Summary: Lyons housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 37.1%, 2 bedroom homes decreased by 28.6%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 22%, and 5+ bedroom homes increased by 25.2%.

Median Sold Price Compared To Nearby Cities

Summit
+14.0%
Riverside Township
+9.8%
Lyons
+2.9%
Riverside
-1.3%

Housing Supply in Lyons, IL

How many homes are available in Lyons, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3130-3.2%

Summary: The Lyons real estate market had 30 homes for sale in May 2024, a 3.2% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 10
-100.0%
2 57
+40.0%
3 129
-25.0%
4 67
+16.7%
5+ 77
0.0%

Summary: The Lyons housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 40%, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
76-14.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lyons, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 6 homes were sold or pending in Lyons in May 2024, down by 14.3% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.

Days on Market for Lyons, IL

How long does it take to sell a home in Lyons, IL?

Average Sale Time

May 2023May 2024CHANGE
46 Days9 Days-79.4%

Summary: Homes in Lyons had an average of 9 days on market in May 2024, down by 79.4% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lyons are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 6 homes were sold in Lyons; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

Newest Listings in Lyons, IL

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